Microsoft tops Apple to become world's most valuable company
Zee News
Apple Inc lost its crown as the world`s most valuable public company to Microsoft Corp.
New Delhi: Apple Inc lost its crown as the world`s most valuable public company to Microsoft Corp on Friday, as the iPhone maker`s shares continued their downward slide.
Apple took a $6 billion hit to its sales during the fiscal fourth quarter due to a nagging global supply chain problem, leading to a miss on Wall Street expectations. Top boss Tim Cook said the impact will be even worse in the current holiday sales quarter.
"Compared to less hardware-focused FAANG peers, Apple is also a lot more exposed to supply chain disruption," said Sophie Lund-Yates, equity analyst at Hargreaves Lansdown.
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